-=BJ's Wholesale (BJ) reported earnings on Thur 21 Nov 2019 (b/o)

Wholesale beats by $0.01, misses on revs; narrows FY20 EPS guidance; lowers FY20 revenue/comp guidance; Q3 comps -0.4%; approves $250 mln repurchase program

Reports Q3 (Oct) earnings of $0.41 per share, excluding non-recurring items, $0.01 better than the S&P Capital IQ Consensus of $0.40; revenues rose 0.2% year/year to $3.23 bln vs the $3.3 bln S&P Capital IQ Consensus.

Comparable club sales for the third quarter of fiscal 2019 decreased 0.4%, compared to the third quarter of fiscal 2018. Comparable club sales, excluding the impact of gasoline sales increased 1.1%. Comparable club sales for the first nine months of fiscal 2019 increased 0.7%, compared to the first nine months of fiscal 2018. Excluding the impact of gasoline sales, comparable club sales increased 1.5%.

Co issues downside guidance for FY20, narrows EPS of $1.44-1.48 from $1.42-1.50 vs. $1.49 S&P Capital IQ Consensus; lowers net sales to $12.9 bln from $12.9-13.2 bln vs. $13.29 bln S&P Capital IQ Consensus; lowers comps to +1.3-1.5% from +1.5-2.5%.

On November 20, 2019, the Company's Board of Directors approved a stock repurchase program, effective immediately. The authorization allows the Company to repurchase up to $250.0 million of its outstanding common stock. The stock repurchase program expires in January 2022 and gives management the flexibility to determine the terms and conditions under which shares may be purchased.